Zacks: Brokerages Set $25.00 Target Price for Old Republic International Co. (ORI)
Old Republic International Co. (NYSE:ORI) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus target price of $25.00 for the company and are anticipating that the company will post $0.35 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Old Republic International an industry rank of 176 out of 255 based on the ratings given to related companies.
Several equities research analysts recently commented on ORI shares. TheStreet raised shares of Old Republic International from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Zacks Investment Research lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Wednesday, December 26th.
Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, January 24th. The insurance provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. Old Republic International had a net margin of 6.15% and a return on equity of 10.79%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. On average, equities analysts predict that Old Republic International will post 1.85 EPS for the current fiscal year.
In related news, CEO Aldo C. Zucaro purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The stock was bought at an average price of $19.87 per share, with a total value of $99,350.00. Following the acquisition, the chief executive officer now owns 1,260,080 shares in the company, valued at $25,037,789.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders purchased 5,600 shares of company stock valued at $111,828. 1.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Old Republic International by 8.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,078,054 shares of the insurance provider’s stock worth $113,647,000 after purchasing an additional 397,397 shares during the last quarter. Credit Suisse AG boosted its stake in Old Republic International by 44.5% during the 3rd quarter. Credit Suisse AG now owns 406,884 shares of the insurance provider’s stock worth $9,106,000 after purchasing an additional 125,230 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Old Republic International by 7.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 217,450 shares of the insurance provider’s stock worth $4,871,000 after purchasing an additional 14,644 shares during the last quarter. Baird Financial Group Inc. boosted its stake in Old Republic International by 6.6% during the 3rd quarter. Baird Financial Group Inc. now owns 84,347 shares of the insurance provider’s stock worth $1,863,000 after purchasing an additional 5,236 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in Old Republic International by 10.6% during the 3rd quarter. United Services Automobile Association now owns 42,462 shares of the insurance provider’s stock worth $950,000 after purchasing an additional 4,076 shares during the last quarter. 73.79% of the stock is owned by institutional investors.
About Old Republic International
Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.
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